West Texas Climbs to Highest Level in Week as OPEC Increases Demand Forecast

Bloomberg reported that West Texas Intermediate futures rose to 0.5% in New York to one-week high as OPEC raised its demand forecast.

As quoted in the market news:

Futures rose 0.5 percent after the Organization of Petroleum Exporting Countries said it will have to provide 29.8 million barrels a day in 2013, up 0.3 percent from a January estimate. The dollar fell against the euro on the G-7 statement.

Click here to read the full Bloomberg report.